TOKYO, - The dollar was on the defensive on Wednesday as rising expectations of a U.S. rate cut and warning from U.S. health officials on a domestic coronavirus outbreak called into question the perceived relative strength of U.S. financial assets.
Against the yen, the U.S. currency traded at 110.25 yen JPY=, about two full yen below its 10-month high touched last Thursday, after three straight days of losses. As outbreaks started to quickly spread to the Middle East and Europe, investors no longer saw the U.S. economy immune and started to bet the U.S. Federal Reserve will have to cut interest rates to support the U.S. economy.
In contrast to the Fed, the world’s other major central banks such as the European Central Bank and the Bank of Japan have limited room for easing with their policy rates already at record lows.
Ummmm, who the fuck thought the US would be immune?
DanielleFong fund your fund. CDC can’t decide what day/virus it is, Donald doesn’t care. Dollar will sink. Time to reconsider supply dependencies AND what an integrated health care system is over this form of ‘homeland defence’ issue.
S federal reserve has been pumping cash into the economy to keep it afloat.... It had to come to a stop sooner or later. The coronavirus is just an excuse. US economy was always crashing
so, um, if the dollar is going down what's going up, if its not immune then what *is* immune, currency is a cross, one versus another, even when in a basket....
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